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RadioShack loss widens on lower sales of consumer electronics
June 10, 2014 / 11:15 AM / 3 years ago

RadioShack loss widens on lower sales of consumer electronics

June 10 (Reuters) - U.S. electronics retailer RadioShack Corp reported a bigger quarterly loss, hurt by higher promotions in its smart phones and tablets business and weak sales of consumer electronics.

The company’s net loss widened to $98.3 million, or 97 cents per share, in the first quarter ended May 3 from $28.0 million, or 28 cents per share, a year earlier.

Net sales fell 13 percent to $736.7 million.

Reporting by Devika Krishna Kumar in Bangalore; Editing by Kirti Pandey

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